The transactions of Dexter Company:
a. | Macy Dexter, owner, invested $11,500 cash in the company in exchange for common stock. |
b. | The company purchased office supplies for $334 cash. |
c. | The company purchased $6,360 of office equipment on credit. |
d. | The company received $1,357 cash as fees for services provided to a customer. |
e. | The company paid $6,360 cash to settle the payable for the office equipment purchased in transaction c. |
f. | The company billed a customer $2,438 as fees for services provided. |
g. | The company paid $525 cash for the monthly rent. |
h. | The company collected $1,024 cash as partial payment for the account receivable created in transaction f. |
i. | The company paid $1,000 cash for dividends. |
Prepare
general journal entries to record the transactions above: Cash;
Accounts Receivable; Office Supplies; Office Equipment; Accounts
Payable; Common stock; Dividends; Fees Earned; and Rent Expense. Use the
letters beside each transaction to identify entries. (Omit the "$" sign in your response.)
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Post
the above journal entries to T-accounts, which serves as the general
ledger for this assignment. Determine the ending balance of each
T-account. (Record the transactions in
the given order. Leave no cells blank - be certain to enter "0"
wherever required. Omit the "$" sign in your response.)
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